House Panel Finds No Ethics Breaches in Countrywide VIP Loans

Thursday, 27 Dec 2012 06:00 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

The House Ethics Committee said it found no violations by House members whose mortgage loans went through the VIP section of the former Countrywide Financial Corp.

The committee said nearly all the allegations involved loans that were granted so long ago that they fell outside the panel's jurisdiction. The committee added that participation in the VIP program did not necessarily mean borrowers received the best financial deal available.

The committee said that it was concerned with the actions of House staff members who may have reached out to Countrywide lobbyists for assistance with their personal loans.

The report said that if these staff loans had been more recent, there may have been disciplinary action.

Countrywide was taken over by Bank of America in 2008.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web
Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved